An arrangement for monitoring an antifriction bearing of a rotating shaft of a rotating electric machine. The arrangement includes: one or more capacitor electrodes to measure a capacitive shaft displacement parameter; one or more of the following additional measurement sensors; a microphone to measure a bearing noise parameter, a voltage sensor to measure a bearing current parameter, and/or an optical pyrometer to measure a shaft heat parameter; and one or more processors configured to evaluate a condition of the antifriction bearing based on the capacitive shaft displacement parameter and one or more of the following: the bearing noise parameter, the bearing current parameter, and/or the shaft heat parameter.